Dell (DELL) PT Raised to $500; TD Cowen: 'Phenomenal Results & Guidance'
TD Cowen analyst Krish Sankar raised the price target on Dell (NYSE: DELL) to $500.00 (from $450.00) while maintaining a Hold rating.
The analyst commented: "Phenomenal Results & Guidance; Another stunning beat and raise with AI server demand now projected to reach $74B in FY27 (+3x Y/Y) as traditional servers benefit from upgrades and early agentic AI CPU demand. NT storage growth and PC share gains also help to drive the impressive FY27 revenue outlook for +70% Y/Y. Component cost inflation not yet impacting prices given Dell's operating and cost efficiencies. We value Dell on a SOTP method assigning a 18x multiple (was 25x) to the ISG group and 10x to CSG. The blended 16x multiple (was 21x) applied to our FY28 EPS estimate of $31.00 (was $21.50) yields our $500 price target (was $450)."